Results from the IP geophysical survey and drilling will be used to inform a broader drill program at Liontown to begin in March 2024. Pic via Getty Images
Mining
Special Report: Sunshine Metals is looking to geophysical surveys for another layer of supporting evidence in determining future drill targets for the Liontown, Truncheon, and Highway East prospects near Charters Towers in North Queensland.
Sunshine Metals (ASX:SHN) has started exploration works to further boost its resource opportunities at various prospects within the broader Ravenswood Consolidated project in Queensland where it is hunting for large mineral systems.
The region has produced over 20Moz gold and 14Mt of VMS ore (copper-gold, zinc-lead) from mines including Highway-Reward.
After upgrading the resource at the Liontown deposit by 21% to 2.94Mt @ 10.6% zinc equivalent earlier this month, SHN is now hoping to delineate Cu-Au rich sulphide zones deeper into the footwall than previously explored.
Other highly encouraging VMS targets – including Truncheon and Highway East – will also be the subject of IP surveys, representing the first detailed activities at these prospects.
“Results from the IP geophysical surveys will tie in with current drilling, to guide a broader 2024 drill campaign at Liontown and first pass testing at Truncheon and Highway East,” SHN managing director Dr Damien Keys says.
“The footwall of the 2.94Mt Liontown VMS system is likely to be copper-and gold-rich due to its proximity to the volcanic fluid source and any mineralisation should theoretically be susceptible to electrical geophysical methods, such as IP,” he says.
“Truncheon and Highway East are located ~2.5km to the east of the 3.9mt @ 5.4% Cu, 1.1g/t gold Highway Reward mine.
“The two targets share many similarities with the Highway Reward mine including strong gravity anomalies and elevated copper, lead and zinc in soils (gold not assayed for at Highway East).
“An historic IP survey at Highway East shows chargeable anomalism coincident with shallow gold workings, and the current surveys will assist with refining drill ready targets.”
Drilling of three footwall/feeder fault targets is complete and results are expected in late February/early March.
Results from the IP geophysical survey and the drilling will be used to inform a broader drill program at Liontown during March 2024.
Further mapping and sampling will be completed at Truncheon and Highway East. The mapping and IP geophysics will be used to refine first pass drill programs at both targets.
This article was developed in collaboration with Sunshine Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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